When creating a short-term rental property marketing plan, note that you only have under a minute to grab your potential tenants' attention. As a Northeastern University article points out, today's average human attention span is only 45 seconds.
For that reason, your property listings must be concise and straight to the point. At the same time, they must highlight the best things about your property and why renters should choose it.
If you're unsure how to up your marketing ante, don't worry. PMI Piedmont's property management experts have shared tactics to help you achieve better marketing results, so read on.
1. List Your Property With Fair Rates
According to the latest available figures from the U.S. Census Bureau, as of 2022, High Point's owner-occupied housing rate was only 58.1%. Many other households are renters, making the city's rental real estate market competitive. So, if you charge more than what's fair and justifiable for your property, you can quickly lose a good chunk of your prospective tenant pool.
Don't let that happen by staying abreast of vacation or short-term rental pricing trends applicable to your property. One way to do this is to conduct regular rental analyses. They can help you determine how much comparable properties charge.
Then, update your listings to reflect current rate trends.
2. Use Up-to-Date Visual Aids
Market your property using high-quality, professional photos and videos captured recently. They should be in high-resolution format and taken with adequate lighting.
It's also wise to invest in home staging before you take photos and videos of the rental. At the very least, you should deep clean the property. With these strategies, you can make your visual aids depict your rental investment property as a more inviting and welcoming haven.
3. Highlight Your Property's Pet-Friendliness
One of the best ways to attract more tenants/guests to your property and boost rental income is by implementing a pet-friendly policy. After all, as the Pew Research Center points out, 62% or nearly two in three Americans have pets. Of these folks, almost all (97%) consider their pets family.
So, when marketing your property, use descriptive words like "pet-friendly," "pet-welcoming," or "pet-inclusive." They should be in your listing's title and spread throughout the property description.
4. Market Your Property With Special Deals or Promos
Boost your rental property's attractiveness by offering low introductory rates (for short-term leases). For example, if you rent to a single tenant for under six months, you can offer them a discounted rate for the first month. If you're hosting vacationers, consider giving them a long-stay offer (e.g., a small discount for stays of over one week).
Maximize Property Marketing Results With These Tactics
From charging fair rates to implementing a pet-friendly policy, these strategies can help improve your property marketing results. They can help attract more guests/tenants, increase your property's occupancy rate, and boost your rental income.
Alternatively, you can delegate all your hosting/landlord duties and tasks to our company, PMI Piedmont. We're a full-service property management firm specializing in short-term rentals in High Point, NC. Our team, comprised of highly educated licensed professionals, are experts in real estate, accounting, taxation, and property maintenance.
Call us today to learn how our services can help your vacation or short-term rental business thrive!
